Rate Hikes 2022

Insight about the rate hikes coming

How rate hikes are determined

Fixed rate mortgages & Variable rate mortgages

Fixed rate:

Interest rates on fixed rate mortgages are affected by the Government of Canada's bond yields which included RSP contributions, investments etc.

Variable Rate:

Interest rates on variable-rate mortgages are affected by changes in the Bank Rate and the overnight rate, which are set by the Bank of Canada.

Expected rate hike in March 2022

Mortgage rates:

Throughout the pandemic, Mortgage rates have fluctuated to reach all time lows. Speculation from industry experts suggest there may be a slight increase expected to occur in March 2022 when the Bank of Canada announces the overnight rate.

Please reach out to me if you have any questions in regards to the variable and fixed rates that are in the news right now, I am more than happy to answer any questions you may have!

613-298-1522

lburns@martelmortgages.ca